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November 20, 2013

New Hire Roundup: FSI Names Valerie Brown, Others to Key Posts

Vanguard prescious metals fund manager resigns; Shay of New York Life named president of Women in Insurance & Financial Services; more

This week in personnel announcements and new hires, Graham E. French resigned as manager of a Vanguard metals fund, and Angelia Shay of New York Life was named president of Women in Insurance & Financial Services.

Also, Hartford Funds hired Joshua West in Southern California, and Penn Mutual announced new positions for Jonathan Self and Michael DePalma.

The Financial Services Institute has elected two new directors for its Board for 2014, and elevated two of its directors to new leadership positions. Scott Curtis, president of Raymond James Financial Services and Amy Webber, president of Cambridge Investment Research are now members of FSI's 16-member board.

In addition to the new directors, FSI also elected Valerie Brown, CEO of Cetera Financial Group, as the new vice chairwoman. Brown will serve a one-year term and then become board chairwoman in 2015. FSI also elected Adam Antoniades, president and CEO of First Allied, to serve as FSI PAC Board chairman. Both of these Board leadership positions roll up to the FSI Executive Committee and will take effect on Jan. 1.

“We are very pleased that our already strong and diverse Board is adding two more industry leaders to its roster,” said Dale Brown, FSI's president and CEO. “Our advocacy agenda benefits firms and advisors of all sizes and business models, and our Board of Directors continues to reflect that diversity. Our Directors volunteer their time, resources and expertise in support of our mission of advocacy for a healthier, more business friendly regulatory environment for our members and their clients to thrive.”

French managed the Precious Metals and Mining Fund since 1996; before that he had spent five years as assistant manager. French, who joined M&G in 1989, will remain in a consultative role with the fund for the next six months.

Co-manager Randeep Somel, CFA, will assume sole portfolio management responsibilities. Somel joined M&G in 2005, and has worked side-by-side with French for the past five years. M&G expects to name a co-manager in the near future.

Founded in 1931, M&G is based in London and manages more than $300 billion in assets. The firm has served as investment advisor to the Precious Metals and Mining Fund since its inception in 1984, and also oversees portions of the $22 billion Vanguard International Growth Fund, $222.5 million Vanguard Emerging Markets Select Fund, and $2.2 billion International Portfolio of Vanguard Variable Insurance Fund.

Shay Named to Top Spot at Women in Insurance

Angelia Shay, an agent in New York Life’s Richmond general office, has been named president of Women in Insurance & Financial Services (WIFS). The professional organization for women in the financial services industry is dedicated to attracting women to the sector and helping them develop their talents. The organization has 1,000 members and 24 local chapters.

Shay joined New York Life in 1994 and is a Life Underwriter Training Council fellow. She is also a financial advisor with Eagle Strategies LLC, a wholly owned subsidiary of New York Life, and has more than 25 years of experience in the financial services industry. She is the founder and president of THE PATH Financial Strategies (formerly The Fritter Group), which provides holistic insurance and financial services for pre-retirees, retirees and business owners.

Hartford Funds Goes With West in California

Hartford Funds announced Tuesday that it has hired Joshua West as an advisor consultant to non-wirehouse advisors in Southern California. In this role, he will be responsible for driving regional sales efforts and will serve as a resource for financial advisors on the firm’s products and strategies. He is based in Westminster, Calif., and will report to Mike Tobin, divisional vice president.

West joins with a decade of industry experience. Most recently, he served as a regional vice president for Fidelity Investments, where he supported agents in all channels throughout southern Los Angeles, Orange County and Hawaii. Previously, he was a regional annuity specialist for The Hartford—Planco, supporting northern California and northern Nevada. Prior to his role at Planco, he held various roles at Merrill Lynch and Wells Fargo Financial.

Penn Mutual Names Self, DePalma

The Penn Mutual Life Insurance Co. announced Monday that Jonathan Self has been appointed sales manager of Navigon Financial Group, the firm’s career agency in Raleigh, N.C., and Michael DePalma has been appointed sales manager at the firm’s Connecticut agency, National Legacy Group.

Self, who has been with Penn Mutual since 2008, previously served as an account manager and recruiter for Allegis Group in Raleigh, N.C., where his responsibilities included recruiting and placing engineers.

Prior to joining, DePalma spent time as district manager at Guardian Life and as sales manager at MassMutual.